The National Depository Center (NDC), Russia's only settlement depository servicing the full range of debt and equity securities of Russian issuers, announced today that its Board of Directors meeting Dec. 23 approved the early termination of the powers of the Committee’s member Alla Antipova,Head of Department for Corporate Clients’ Credit Risks, Sberbank, in connection with Ms. Antipova’s job change. In accordance with the Sberbank’s request Natalia Rostovtseva, Deputy Director, Risk Management Directorate, Sberbank, was appointed, replacing Ms. Antipova.
Membership of NDC’s Risk Management Committee now is as follows:
| 1 | Vladislav Zimin |
Economic Advisor, Market Services Department, Bank of Russia |
| 2 | Sergei Naumov |
Deputy Director – Controller, NDC |
| 3 | Alexei Andreyev |
Director, Strategic Risks Department, UniCredit Bank |
| 4 | Alexei Barbashov |
Director for Risk Management, MICEX |
| 5 | Maria Krasnova |
Head of Legal Division, NDC |
| 6 | Oleg Labutin |
Deputy Chairman of the Board, Board Member, Bank "National Clearing Centre" (CJSC) |
| 7 | Natalia Rostovtseva |
Deputy Director, Risk Management Directorate, Sberbank |
| 8 | Veronika Sorochkina |
Senior Manager of Department for Depository Services’ Organization and Development, VTB Bank |
| 9 | Tatiana Ulyanova |
Deputy Head of Department for Depository Services’ Organization in the Depository, Vnesheconombank |
| 10 | Nikolai Chemodurov |
Head of Directorate for Analysis and Audit of Depository Activities, GPB OJSC |
NDC’s Board of Directors approved and recommended that the general meeting of NDC members consider the following issues related to the company’s reorganization from not-for-profit partnership to a joint stock company, including:
- Approaches to the key problems of reorganization;
- Terms of and procedures for carrying out an inventory and the preparation of a transfer protocol;
- Methods of evaluation of transferred (received) property and liabilities;
- A plan for NDC reorganization into a joint stock company during Q1 2009.
NDC’s Board of Directors recommended that the general meeting nominate Nikolay Egorov, Director, NDC, and Eddie Astanin, Deputy Director, NDC, as the candidates to the Board of Directors of Settlement Depository Company CJSC.
The directors of the company reviewed a report by NDC’s director on preliminary results for 2008 and information on the progress in implementation of NDC’s Technological Platform Modernization Program. NDC’s budget for 2009 was approved. NDC’s income and expense budget and NDC’s capital investment budget for 2009 were recommended for approval by the general meeting. The participants of the BoD meeting reviewed corrected budgets of NDC Technological Platform Modernization Program.
NDC’s Board of Directors recognized a Plan of NDC Internal Control Department’s Activities for 2008 as implemented and approved a Plan for NDC Internal Control Department’s Activities for 2009.
About NDC :
Not-for-Profit Partnership “The National Depository Center” is the largest settlement depository in Russia, servicing the full range of debt and equity securities of Russian issuers. NDC provides storage of global certificates and depository accounting for 99% of corporate bond issues, sub-federal and municipal bond issues. It services 100% of transactions conducted in the federal bond and the Bank of Russia bond markets, more than 99% of transactions conducted in the corporate and regional bond markets, and more than 99% of stock exchange transactions with equities and OTC trades. The international rating agency Thomas Murray has assigned NDC an АА- rating as a central depository. NDC is Russia's national numbering agency, and the substituting numbering agency for the CIS, authorized to assign the international ISIN and CFI codes.
Among NDC’s founders are MICEX and Bank of Russia (the founders’ shares in the property of NDC are 46.67% and 39.35% respectively, and in the votes 50.16% and 42.3% respectively). Members include GPB OJSC (Gazprombank), Evrofinans Mosnarbank, Rosbank, VTB Bank (Vneshtorgbank), Bank of Moscow, Rossiysky Credit Bank, Vnesheconombank, ING Bank Eurasia, JP Morgan Bank International LLC, UniCredit, Deutsche Bank, and Sberbank. The Partnership also has stakes in Depository Clearing Company CJSC (37.29%), in Settlement Depository Company CJSC (28.54%) and in Bank "National Clearing Centre" CJSC (0.27%).
For further information about NDC: www.ndc.ru, or NDC Public Affairs Department: +7 495 232 0910, .